309 Holbrook Lane, Coventry, CV6 4DG

Freehold Retail Investment For Sale

Property details

Type Investment
Tenure Freehold - subject to existing tenancies.
Price Offers Invited £395,000
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Features
  • Fully let producing £26,000 per annum
  • A5 retail property let on a FRI lease for 29 years from 2008
  • 17 years unexpired
  • 3 yearly rent reviews (no break clauses)
  • Prominent location
  • Freehold – offers based on £395,000
Location
The property occupies a prominent mid parade position with a retail parade on Holbrook Lane, which feeds off the main A444 via Holbrook Way. The property is located approximately 1km north east of the city centre in the district of Holbrook.
Description

The property comprises a retail unit, benefitting from A5 takeaway consent and currently trades as a Pizza takeaway. To the first floor there is ancillary accommodation and the property is fully let producing a total of £26,000 per annum.

Price
Offers based on £395,000 are invited for the freehold interest, subject to the existing tenancy. A purchase at this level would represent a net initial yield of 6.32%.
Tenancy
The property is let on a 29 year full repairing and insuring lease from 14/11/2008 until 13/11/2037, at a passing rent of 26,000. A copy of the lease is available upon request.
VAT
VAT may or may not be applicable. Purchasers should satisfy themselves in this regard.
EPC
Available upon request.
Anti Money Laundering
In accordance with Anti-Money Laundering Regulations, two forms of identity and confirmation of the source of funding will be required from the successful purchaser.